Credit growth demand quickens

Johannesburg - Growth in credit demand by South Africa's private sector quickened to 7.33% year-on-year (y/y) in January compared with a downwardly revised 6.14% rise in December, central bank data showed on Wednesday.

Growth in the broadly defined M3 measure of money supply slowed to 6.58% y/y from 8.27% in December.

Economists surveyed by Reuters forecast y/y private sector credit growth of 6.99% in January, while M3 was seen expanding by 8.6%.

Source: www.fin24.com

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